EOS is again ahead of Bitcoin, showing early signs of trend reversal and entering a potential 3rd of the 3rd of the 3rd wave.
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I shared this on another idea so it would hurt to post it here also.
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There is a squeeze on all timeframes so it will choose a direction soon. Hourly RSI points slightly downwards so aiming for an expanded flat correction most likely.
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Fibs were off screen...
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The majority of coins im watching are in a position that points one more small leg down, even Bitcoin ( its on a 4th of an ending diagonal 5th ). A few pitcforks point at May 31st .
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As long as its trading below the (2) high, it can be an expanding diagonal.
If thats the case then the bad news are that it may see a lower low than (3) and the good news thats its gonna have the usual thrust of every triangle/wedge pattern.
If thats the case then the bad news are that it may see a lower low than (3) and the good news thats its gonna have the usual thrust of every triangle/wedge pattern.
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Its going for the upper target so, short term top at 16$ or 60c higher.
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Also, let me know if the colors on the image above are visible. It was probably and antialiasing or some software improvement that made the colors look better on my end but they were faint and dark in reality.
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Count is invalidated. Although it will bounce i have to re-label the whole thing. This may be an extended correction for the second wave.
Have a look at this idea for a potential bounce on the crypto market.
Have a look at this idea for a potential bounce on the crypto market.
I know that its kinda hard to see the candles since i changed the layout, so untill i find a workaround for the new ideas, you can mouse over to the middle of the bottom (at the bottom oscillator) and hit the "refresh" like icon, it zooms in to the current price action.
Apparently, TV overlays a color depending on your entry position, type of call ( long/short) and current price. I cant recall if that was there before and i didnt notice because of different layout or got pushed in on the recent updates...